In Economics, the Function of Theories, Laws, and Hypotheses Is

question 32

Multiple Choice

In economics, the function of theories, laws, and hypotheses is to:

• A) prevent any misunderstanding of economic behavior.
• B) divide topics between microeconomics and macroeconomics.
• C) generate a complete and unchanging description of economic behavior.
• D) discover relationships between events that are important to economic behavior.

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Definitions:

Unfair Labor Practice

Actions by employers or unions that violate the rights of employees under labor laws.

Taft-Hartley Act

A 1947 federal law that restricts the power and activities of labor unions.

Landrum-Griffin Act

This refers to a 1959 United States federal law that aims to protect union members from corrupt practices and to ensure democratic rights within unions.

Taft-Hartley Act

A federal law enacted in 1947 that restricts the activities and power of labor unions, also known as the Labor Management Relations Act.